You should consider why it is you are going into business. Is it to provide yourself with a job, because you want to be independent, because you want a particular lifestyle, because you are sick of working for a boss, or because you want to make a lot of money?
You should have a clear objective in mind when deciding to commence a business. If you are simply providing yourself with a job and therefore are not including a profit margin (as opposed to a wage), and are not following simple business procedures, then you are not running a business. With some planning though, you can successfully do both. But to be successful you will also need to be entrepreneurial.
Don’t make the mistake of thinking because you can produce the product/service you can also run a business. Working for a boss and taking a regular wage does give a form of security. There are a hundred more things necessary to running a business, than making a product or providing a service.
In fact a HBB is one whereby the operator usually decides to commence a business producing what they are trained for and what they do best. They are in fact practitioners and are providing themselves with a job.
There are many reasons to commence your own home based business:
- As an insurance against unexpected dismissal.
- Freedom from authority – to be masters of your own destiny, your own space and your own time
- To enjoy your work
- An overall sense of well being that money can’t buy
- Less stress
- A challenge to be self reliant
- Seeing your own ideas and work succeed
- Saving time on travel
- The freedom and flexibility to:
- Work what hours they please
- Put as much (or as little) effort in as they please
- Start and stop work when it suits (many with babies work when the baby is asleep)
- Feel satisfaction for having achieved something worthwhile by, and for, themselves
- Low overheads, allowing them to trial an idea without an enormous loss if it is unsuccessful
- To provide themselves with a job, rather than having an external employer